Subscribe to Bankless or sign in
Richard Kim, founder of crypto casino Zero Edge, was arrested for fraud after misappropriating $7M of investor funds for gambling and personal use.
What’s the Scoop?
- High-Profile Arrest: Richard Kim, founder of Zero Edge, was arrested on securities and wire fraud charges after losing nearly all of $7 million raised.
- Misappropriated Funds: Kim diverted investor funds into personal crypto accounts and gambling platforms, contradicting his claims of safeguarding investments.
- Investor Fallout: Major backers, including Galaxy Digital, reported Kim's behavior to authorities, resulting in swift legal action.
1
0
